Cattle Trend Lower

This is Matt Rice with today’s Market Line Report for Tuesday. Beef prices trended lower yesterday as producers continue to battle higher Corn prices. Let’s go to Virginia McGathey with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 7 ¾, to finish at 680. July Corn was dn 3 ½, to close at 679 ¼. Kansas City Hard Red Winter Wheat prices for July were dn 6 ½, to settle at 630.

Portland prices for Club Wheat with Ordinary Protein were Unch, to settle at 7-75. Soft white wheat of Ordinary Protein for July was Unch, ranging from 7-75 to 7-85. Hard Red Winter Wheat with 11 ½ percent Protein, for July was dn 6 ½, ranging from 7-50 to 7-60. DNS wheat with 14 % protein, prices for July were dn 27 ¾, ranging from 8-85, to 9-00.

Live Cattle for Aug were dn $.30, closing at 117.77 ½. Aug Feeder cattle were up $.27 ½, to finish the day at 150.20. July Class III milk was dn $.24, to settle at 17.62.